Issue Date: 2021-06-23
Revised Date:

Legal Cites

Origin:

S.B. 1465, H.B. 3271 and H.B. 2896, 87th Leg., R.S.

Purpose

An account in general revenue for facilitating loans from community financial institutions to micro-business affected by declared disasters.

The account consists of legislative appropriations, federal grants, transfers from GR Account 5106 - Economic Development Bank. Money account may be appropriated only to the Texas Economic Development Bank in the Governor’s Office for program purposes.

The account can be used to provide zero interest loans to eligible community development financial institutions for purposes of making interest-bearing loans to qualifying micro-businesses. Money in the account will also be used to guarantee loans made by participating financial institutions to micro-businesses that have suffered as a result of a declared disaster.

Classification Group 01: General State Operating and Disbursing Funds [?]
Depository Interest Credited to General Revenue Fund (0001)
Disposition of Balance Accumulative
Appropriation Technique General Appropriations Act

Administering Agencies

Note

As the micro-business recovery accounts and programs created under both S.B. 1456 and H.B. 3271 are almost identical, serve the same purpose, and were exempted in the funds consolidation bill along with similar legislation, one “combined” account was added to the Manual of Accounts.

USAS Values

USAS Title
Consolidated Fund
State Fund Group
USAS Status
Used to make general expenditures for the daily operations of state government.